MNR projects healthy spring sales season MINNEAPOLIS (April 11, 2023) —As spring began in Minnesota , the housing market was still locked in winter slumber. Closed sales across the state were down more than 20% over March 2022 while new listings declined nearly 25%. Due to slower...
Buyers take advantage of increased negotiating power MINNEAPOLIS (March 10, 2023) — With closed sales down more than 22% compared to February 2022 , higher interest rates continued making homebuyers wary. Following an encouraging descent to just over 6% in...
Mortgages look more attractive, but buyers remain wary MINNEAPOLIS ( February 10 , 202 3 ) — The housing market continued to normalize as closed sales for January declined 33% compared to the cooling, though still robust market of a year ago. New...
Inventory is up, but high interest rates continue to dampen activity MINNEAPOLIS (January 11, 2023) — In December, closed sales fell almost 39% across the state compared to a year ago, marking 12 straight months of declines. New listings were 17 % fewer than last year with 3,031 new ...
Higher interest rates create hesitancy in buyers and sellers MINNEAPOLIS (December 12, 2022) — The cooling trend in Minnesota’s housing market continued in November as closed sales fell 35.3% statewide compared to a year ago. New listings were down 17 % below last year with 4,735 ...
Buyers gain bargaining power as homes sit on market longer MINNEAPOLIS (November 10, 2022) — As the selling season slowed in October, closed sales slipped almost 31% compared to a year ago. New listings also decreased, falling 19% below last year with 6,883 properties coming on the...
Properties sitting longer as interest rates rise; bidding wars ease MINNEAPOLIS (October 12, 2022) — In September, a cooling trend continued as closed sales were down 18.2% compared to a year ago. New listings also decreased, slipping 17% below last year with 8,384 properties coming on the...
Interest rates and inflation give buyers pause MINNEAPOLIS (September 13, 2022) — In August, closed sales were down 17% compared to a year ago, with 8,256 transactions across the state. New listings followed the cooling trend, falling 17.9% compared to last August even as the total number...
New listings down as total number of homes for sale increases MINNEAPOLIS (August 15, 2022) — In July, closed sales fell 19.2% compared to a year ago, with 7,904 transactions across the state. New listings were also significantly down, declining 14.2% compared to July 2021, although the...
Median sales price climbs and number of overall homes for sale rises MINNEAPOLIS (July 15, 2022) — In June, closed sales of homes declined by nearly 14% compared to a year ago, with a total of 9,208 properties sold across the state. New listings were down 6.4% year-over-year even as the...